Georgia Gaming Market Assessment - Pennsylvania Treasury

Eastern Region Performance: 2003 Report vs. 2010 Actuals
Projected 2006 Actual 2010* Adjusted** Difference
Slot Revenues $1,804,214,546 $1,575,360,848 $1,717,286,341 -4.8%
# of Slots 20,000 16,595 18,057 -9.7%
# of Facilities 8 6 7 -12.5%
WPU $247 $260 $261 5.4%
Source: Pennsylvania Gaming Control Board; Innovation Group. Notes: *Without SugarHouse; **With SugarHouse,
PARX, and Chester annualized based on most recent performance (Jan-April).
The Philadelphia area has approximately 3,500 fewer machines than projected, and a resulting
30% gap in revenues.
Philadelphia Area Performance: 2003 Report vs. 2010 Actuals
Projected 2006 Actual 2010* Adjusted** Difference
Slot Revenues $1,197,336,173 $694,646,797 $836,572,290 -30.1%
# of Slots 11,500 6,297 7,898 -31.3%
# of Facilities 4 2 3 -25.0%
WPU $285 $302 $290 1.7%
Source: Pennsylvania Gaming Control Board; Innovation Group. Notes: *Without SugarHouse; **With SugarHouse,
PARX, and Chester annualized based on most recent performance (Jan-April).
As discussed, only one casino has been developed in Philadelphia, and at a smaller size than the
3,000 projected. However, on a WPU basis, SugarHouse is now hitting the mark, with win per
slot machine of $317 in the past three months.
Central Philadelphia Performance: 2003 Report vs. 2010 Actuals
Projected 2006 Adjusted* Difference
Slot Revenues $656,058,607 $166,416,527 -74.6%
# of Slots 6,000 1,601 -73.3%
# of Facilities 2 1 -50.0%
WPU $300 $285 -4.9%
Source: PGCB; Innovation Group. *Annualized based on most recent performance (Jan-April).
With the annualized impact of SugarHouse, the suburban Philadelphia casinos are generating
$670 million in slot revenues, $129 million or 24% higher than projected.
The Innovation Group Project #054-11 August 2011 Page 49